Business Directories

Mubadala eyes investments in Guinea

Abu Dhabi , November 13, 2011

Mubadala Development Company, Abu Dhabi’s strategic investment and development firm, will explore opportunities in sectors such as bauxite, alumina and iron ore in the Republic of Guinea.

The move follows the signing of collaborative agreements between the government of Republic of Guinea and Mubadala.

These initiatives are expected to deliver significant benefits to the economies of both the countries, a statement said.

Mohamed Lamine Fofana, Guinea’s Minister of Mines and Geology, said: "Mubadala is a strategic partner for the Republic of Guinea and we are very pleased to announce this agreement. We look forward to working towards a successful partnership with Mubadala in these sectors, which are highly strategic for Guinea and are an important foundation for the development of our economy and the realization of new opportunities for our people. This is one of the most important developments in the broader cooperation between The Republic of Guinea and the United Arab Emirates.”

Waleed Al Mokarrab Al Muhairi, chief operating officer of Mubadala, said: “We are delighted to have signed this agreement with the Republic of Guinea, who share our strong development philosophy. This partnership will create a range of positive impacts on the economies of both countries, including industrial investment, job creation and local community developments.

“Furthermore, it will play a vital role in the ongoing successful implementation of our strategy to build a global Aluminium champion through Emal while securing raw materials for the UAE's growing steel industry. “ – TradeArabia News Service